Henry Resources LLC is offering a conventional Permian Basin asset in West Texas through a sale handled by TenOaks Energy Advisors LLC.
The offer consists of operational control across more than 30,000 gross (24,000 net) acres in the Central Basin Platform and Val Verde Basin in Crane, Pecos and Terrell counties, Texas.
The acreage position also includes potential for horizontal development in the Woodford and Barnett as well as shallow uphole potential in the Tubb and San Andres formations.
Highlights:
- 30,447 gross (24,386 net) acres;
- Crane: 11,062 gross (8,202 net) acres;
- Pecos/Terrell: 19,385 gross (16,184 net) acres;
- 50% to 100% working interest;
- 37.5% to 75% net revenue interest;
- 70 proved developed producing (PDP) wells;
- Recent production of 1,554 gross (828 net) barrels of oil equivalent per day (90% in Crane);
- Forward 12-month PDP cash flow of $6.6 million, TenOaks said; and
- Target reservoirs include the Upper Devonian, Atoka, Strawn, Barnett, Woodford, Canyon, Montoya and Clearfork formations.
In addition, the sale includes 51 proved undeveloped, 87 probable and 426 possible locations, according to TenOaks.
Bids are due March 28. The sale is expected to close April 11 with an effective date of April 1.
For information visit tenoaksenergyadvisors.com or contact Lindsay Sherrer, TenOaks partner, at 214-420-2324.
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